The crypto market is witnessing a new GambleFi mania.Pre-sale begins Insanity Bet ($IBET) Created FOMO with a robust passive income model based on revenue sharing.
Here we analyze the project and whether it meets expectations.
Staking: Make the most of your crypto investments
Investing in cryptocurrencies can be a great source of income if you choose the right project with market-related utility and a consistently growing user base. Like traditional stocks, they increase in value over time when held in a portfolio.
However, thanks to creative innovations in the cryptocurrency space, investors can generate more passive income from idle assets in addition to profits from appreciation in value. We’re talking about staking. These primarily work based on his APY (Annual Percentage Yield), which can be fixed or variable, as well as interest rates.
Insanity Bets ($IBET) is a new crypto gambling platform that is quickly gaining traction for its unique passive income system.
why?
Most cryptocurrency staking platforms rely on vague mechanisms to reward users for staking. These staking systems collapse when there is no longer any practicality or inherent demand for them. Eventually, the staking rewards will accumulate in a mountain, but will be close to zero in the market as the value of the token will decrease.
On the other hand, with Insanity Bets ($IBET), passive rewards are tied to game fees or platform revenues. If the platform is robust, the revenue from gaming fees will continue to grow and the staking rewards for investors will also increase.
How does it work?
The passive income revenue sharing model at Insanity Bets relies on trading fees, ILP fees, and game winner fees. In addition to the native token $IBET, the project offers several derivatives to support sustainability.
- $sIBET (Staking iBet) receives 35% of all platform fees and can be exchanged for $IBET.
- $bIBET (Burnt iBet) is generated by permanently removing $IBET from circulation and $bIBET holders receive 50% of the commission.
- $esIBET (Escrow iBet) acts as a staking derivative that automatically rewards $sIBET holders and allows users to compound staking rewards.
Another key element of the platform is $ILP, which represents the index of $USDT, $ETH, $WBTC, and $IBET pools on the platform. To mint $ILP tokens, investors must stake these assets. The $ILP pool is important for scalability, funding the winner and loser house funds and facilitating larger bets without friction. crazy bet.
In other words, $ILP supports the expansion of projects to a wider user base. Therefore, minting $ILP is highly incentivized. In fact, an investor who mints $ILP tokens effectively becomes part of the house and is entitled to receive his 90% of the house’s profits (and losses) from the game. Losses are less common as the house edge has been proven to be between 1% and 5%.
Additionally, one-sided $ILP staking is immune to temporary losses. A maximum bet size has also been implemented to ensure platform stability. The fact that $ILP rewards are distributed in stablecoins like $USDT makes it even more appealing.
How high can $IBET go at launch?
The online gambling industry is likely to achieve a CAGR of 8.54% by 2027. Crypto GambleFi coins are expected to be a significant part of this expansion. They will revolutionize casino and sports betting with unprecedented decentralization.
We set ourselves apart from traditional online gambling platforms by offering a decentralized and transparent framework that resonates with both users and investors. It fosters trust and engagement.
In particular, projects like Rollbit offer a glimpse into the industry’s promising future. In 2023, it recorded an astounding spike of nearly 5000%, which was primarily driven by viral staking programs.
Insanity Bets is predicted to be the next Rollbit with an extensive gambling dashboard offering casino, sports betting, prediction markets, and lotteries. Additionally, it has a more accessible entry point compared to established GambleFi platforms like Rollbit. That means more room for returns. On the other hand, the leading companies in the market are almost saturated.
$IBET presale offers high discounts to early investors
Insanity Bets has launched the $IBET presale and received a warm welcome.
The pre-sale will capture 50% of the $IBET supply, totaling 2,500,000,000 tokens, and aims to reward early investors and supporters as major holders. Divided into multiple tiers, it incentivizes early investment with higher discount rates, creating highly attractive investment opportunities.
Specifically, team assignments are subject to an 80-week vesting schedule. This is another example of the project’s commitment to transparency.
The funds raised in the pre-sale will be used to fully realize the project and expand the user base.
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https://coinpedia.org/press-release/insanity-bets-ignites-gamblefi-mania-with-unmatched-passive-income/
